ASHEVILLE, NC – (November 20, 2024) – New funding from Buncombe County doubles the size of the first funding round of the Asheville-Buncombe Rebuilding Together Grant Fund. The fund is providing grants up to $25,000 to local Buncombe County-based small businesses that have experienced severe impacts from Hurricane Helene. The new Buncombe County funding brings the round one funding total up to $2.9 million which is expected to support around 200 grant awards. Businesses must apply by Wednesday, November 27, 2024 to be considered in the first funding round.
At its November 19 regular meeting, the Buncombe County Board of Commissioners held a public hearing that included approval for the small business economic recovery grant program. “Supporting small businesses who are working to recover from the damage inflicted by Hurricane Helene is vital to our local economy,” said Buncombe County Board Chair Brownie Newman. “Buncombe County appreciates the opportunity to partner with Mountain BizWorks on this important initiative.”
In the week since opening on November 13, the Asheville-Buncombe Rebuilding Together Grant Fund has received 309 grant applications totaling $6.6 million in requests. The applicant businesses collectively estimate $80 million in physical damages and economic losses due to the Hurricane Helene natural disaster. Jobs losses across the applicant pool have been severe with 980 jobs lost, a 40 percent decline from pre-Helene levels. However, with the assistance of sufficient grant relief, the applicants see a path to fully recovering these positions over the coming year as the region rebounds.
“Our hearts go out to all our local businesses that are facing so much adversity from Hurricane Helene and its aftereffects,” stated Matt Raker, Executive Director of Mountain BizWorks. “These aren’t big corporations that can call on resources and expertise from elsewhere. They need our support, and especially flexible grant relief to help them recover. That’s why this Buncombe County commitment is so important and so timely to help restore our local businesses and the jobs they support.”
The Asheville-Buncombe Rebuilding Together Grant Fund now holds $2.9 million in available funding made possible by the following partner organizations. The partners
- Buncombe County: $1,597,053.34
- City of Asheville: $704,070
- Asheville Area Chamber of Commerce: $500,000 from numerous contributors
- Mountain BizWorks: $125,000 from numerous contributors
Businesses located within Buncombe County that have been impacted by Hurricane Helene may request up to $25,000 in reimbursement for storm-related costs not covered by insurance or other funding sources. The grants will support a range of costs to help rebuild and reopen such as clean-up, replacing lost inventory, temporary potable water solutions, payroll, and more.
Businesses are encouraged to apply if they:
- Are for-profit businesses physically located within Buncombe County
- Have fewer than 200 full-time employees
- Have uninsured losses due to Hurricane Helene, as documented by insurance claim results or other verification (only uncompensated disaster losses are eligible)
- Are currently operating, or have a plan to reopen
Priority will be given to the most impacted areas and companies, and will prioritize locally-owned small businesses, including those that may have barriers accessing other programs. There is no annual revenue eligibility limit for this program. Award announcements are expected to be made by Friday December 13.
Full program details and application guidance information are available at mountainbizworks.org/abgrants. Fund information and application is also available in Spanish.
Information on the range of small business recovery resources available including grants, loans, and guidance can be found at wncstrongtogether.org.
For those interested in supporting small business recovery, donations are being accepted into the Asheville Area Chamber of Commerce’s Mountain Strong for Business Recovery Fund and through Mountain BizWorks and the regional WNC Strong initiative.
